RIYADH: Saudi Arabia’s non-oil business activity continued to expand in July, even as growth momentum softened, with the Purchasing Managers’ Index easing to 56.3, down from 57.2 in June, a market tracker showed.
Compiled by S&P Global for Riyad Bank, the PMI remained well above the neutral 50-point threshold, signaling ongoing improvement in private sector operating conditions.
The robust growth in Saudi Arabia’s non-oil business activity aligns with the broader goals of Vision 2030, which aims to diversify the Kingdom’s economy and reduce its reliance on oil revenues.
This comes as Saudi Arabia’s economy grew by 3.9 percent year on year in the second quarter of 2025, driven by strong non-oil sector performance, according to flash estimates released last month by the General Authority for Statistics.
Naif Al-Ghaith, chief economist at Riyad Bank, said: “Saudi Arabia’s non-oil economy remained on a solid growth track in July, supported by higher output, new business, and continued job creation. Although the headline PMI edged down to 56.3 from 57.2 in June, the reading still pointed to a healthy level of activity across the private sector.”
